Why Nordstrom, Buckle, and Hibbett Sports Jumped Today
Friday was another relatively quiet day on Wall Street as major benchmarks continued to tread water near all-time highs. Market participants seem to be waiting for some major piece of news to lead them either higher or lower, but at least today, they didn't appear to get any clear direction. Yet there were still some pockets of significant strength at the individual stock level that gave investors some holiday cheer. Nordstrom (NYSE: JWN), Buckle (NYSE: BKE), and Hibbett Sports (NASDAQ: HIBB) were among the top performers. Here's why they did so well.
Shares of Nordstrom jumped nearly 11%, rebounding from recent declines after the upscale department store chain released its latest quarterly numbers. A host of retail peers had posted troubling results in their own quarterly reports, and Nordstrom's 2.2% drop in revenue during Q3 2019 certainly wasn't the figure that investors were hoping to see. Yet earnings per share doubled from year-ago levels, and company Co-President Erik Nordstrom touted the opening of its new flagship New York City store as a key element in its overall strategy. With a mix of high-end and discount stores along with a rising online presence, Nordstrom is doing what it can to remain a leader in a fast-changing retail world.
Image source: Nordstrom.
Source Fool.com
